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over the fiscal cliff if republicans don't give in on higher taxes for the wealthy. a little bit of trade data out of the uk. i didn't have a forecast for this. adjusted global goods trade deficit 9.5 billion. september unrevised. forecast here forecast at 8.65, so that is a wide deficit than forecast. adjusted 4.5 billion. sterling not reacting huge amount. european stocks today are firmer. up 0.4% for the ftse. xetra dax continues its strong momentum, we are trading at 52 week highs and up now about 27% for the year. bond markets which is where we stand with yields, spanish ten year yields slightly lower, but we were 5.2% beginning of the week was the handle. currency markets, not huge changes. euro-dollar just below 1.31, dollar-yen 82.44. euro trading, though, at a fresh day high it must be said. we have comments coming out of china on the smartphone segment. apple's rang in china smartphone market which will become the world's biggest this year down to number six in the third quarter. facing tougher competition from chinese brands. this is the research firm idc coming out wi
these negotiations, and are the republicans about to be blamed big-time for falling off their own fiscal cliff? joining me now is ace pollster scott rasmussen. i just did a little tv gig with scott, who's in about 60 cities across the country. all right, scott. you heard timothy geithner. he said if they don't raise taxes on the rich, they were going to go over the fiscal cliff. but at the end of the day, if we do fall over the fiscal cliff, if taxes go december 31st, will the republican party be blamed? >> absolutely. right now, people aren't convinced that either the president or congressional republicans are serious about negotiating. but they're a lot more willing to believe that the president is negotiating in good faith. >> and let me ask you. is the republican party therefore becoming the party of the rich, defending the top tax brackets, and is obama becoming the party of the middle class? >> absolutely. and larry, the reason the republicans are in this fix right now is because they think these discussions and negotiations are about deficit reduction. president obama thinks they're abo
television. >> we are talking about the fiscal cliff. john harwood just got back from senate republican mitch mcconnell's home state of kentucky. here he is. >> in the senate the challenge is bring together red states and blue states. mitch mcconnell's kentucky is horse country. states represented by top congressional leaders, the reddest of all. among the top leaders of congress involved in fiscal cliff negotiations, the one facing the most home state pressure may be senate republican leader mitch mcconnell. he faces re-election in kentucky and a state where the tea party movement is alive and well. president obama may have won this election but would years ago, leaders of the tea party movement elected ron paul's son, rand, as kentucky senator over an establishment republican. one leader of that movement who runs a high-end audio equipment business says they could do the same thing in 2014 and this time take out mitch mcconnell if he agrees to raise taxes. >> we should not raise taxes in this country. we do not have a receive knew problem. i would like senator mcconnell to recognize that th
as the war of words between democrats and republicans over the fiscal cliff heats up. european markets not so much of a fairy world if we can use the draghi expression. a little higher. xetra dax leading the way up 0.3%. cac 40, ftse 100 on its heats. ibex 35 is lower. bond space shows pretty positive attitude, as well. yields falling in spain, italy again this morning. 5.35%, 4.54%. we did of course see italy above the 4.5% yesterday. ten year moving up a little bit, but still south of 1.4%. the euro-dollar has been on the rebound this morning. and look at that up a quarter of a percent. dollar-yen certainly one to watch as we talk about whether japan can finally revive hopes for its economy adding two thirds of a percent to 82.66 this morning. india's latest gtp report highlights just how much it's in need of policy reform. let's go to new delhi. a disappointing set of gdp figures. what's the government reaction now? >> yes, gdp figures are disappoint and that's what the government has admitted. but the government is working on a concrete plan to get growth back on track. gdp numbers have c
. >>> talks between the white house and republicans over the fiscal cliff are grinding to a hold. house speaker john boehner dealing with division in the gop's ranks to his budget plan. we've got a shanghai surprise. china's mainland markets up over nearly 3% after beijing's new leaders called for economic stability and new business growth. and it looks like more austerity for britain. george osborne getting ready to release his autumn statement. >>> nokia shares a little bit high today. they are teaming up with china mobile, giving access to the world's biggest mobile phone markets. >>> if you just got up, very warm welcome to the start of your global trading day. stocks are on the front foot this morning. this is where we stand with u.s. futures. currently called up around about 30 points higher. the dow down, what, 13 points? the nasdaq called up just under 40 points. the s&p 500 at the moment is called up just over three points. it was down two points yesterday. european stocks doing a little built better. they were as flat as a pancake, as i've been saying. as flat as my pancakes.
the next step, house republicans put forward their plan to avoid the fiscal cliff. proposal quickly dismissed by democrats and the white house. eu finance ministers trying to come to an agreement on a european banking union. this as the ecb vice president says appointment of the supervisory board should be decided by central bank itself. and australia central bank has cut interest rates to match their low he is level since the financial crisis in a bid to try to get ahead of sluggish commodities demand. very good morning to you. kelly away all week. we seem to be on different schedules. pretty disappointing ism manufacturing. lowest in three years. today called slightly higher, 12 1/2 pounds. a flat tisch day yesterday for the ftse. just up four points. ftse and dax up 9 and 10 out of the last 11 trading days. dock 40 up on 0.7%. ibex up two thirds. the white house and leading democrats have dismissed the latest proposal by republicans suggesting it didn't address the president's pledge to hike taxes on the wealthy. the plan would generate $800 billion in into tnew tax revenu leaves
. >>> 31 days left for lawmakers to reach a fiscal cliff deal. cnbc is heading to the home states of key congressional leaders involved in negotiations. today john harwooden in kentucky. senate republican leader mitch mcconnell's home state to find out how the fiscal cliff is impacting constituents there. >> reporter: in the senate, the challenges is bringing together red states and blue states. mitch mcconnell's kentucky is horse country. of the states represented by top congressional leaders, it's the reddest of all. >> among the top leaders of congress involved in fiscal cliff negotiations, the one facing the most home state pressure may be senate republican leader mitch mcconnell. he faces re-election in kentucky, a state where the tea party movement is alive and well. president obama may have won this election but two years ago leaders of the tea party movement elected ron paul's son rand as kentucky senator over an establishment republican. one leader of that movement who runs a high-end audio equipment business says they could do the same thing in 2014, and this time take out mitc
is coming up next. he also has interesting things to say about the impact of the fiscal cliff is uncertainty. also ahead -- >> i don't understand his brain, so you should ask him. >> senate majority leader harry reid digging in his heels, referring to house speaker john boehner when asked about the republican's position that the ball is in the democrat's court. he said he doesn't understand his brain. we'll hear what reid's nevada constituents think about the job he's doing. >>> also, could our debt mean the death of the dollar bill? i don't mean the value of the dollar. i mean the actual dollar bill. it may be on the endangered species list. stay with us. back in a moment. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. >>> welcome ba
would happen if we go over the fiscal cliff. the president is counting on that. >> which republicans? boehner doesn't get -- some of these guys go back to the auto parts shop where they came from before they were a tea party republican, wherever they -- you can't -- it's not a monday know lit. you can't get mad at the house. >> people pointed out some of the republicans were there and congress don't care. >> no, why would they? >> i don't necessarily think president obama cares that much either. his leg legacy is about obamacare, redistribution. and you can't control the economy. you can divide the pie better, but it will have these cycles. bush messed things up. i did the best i could, but he'll redistribute and that will happen, we'll spread the wealth around. and i don't think he cares that much about it. >> you don't think he cares about -- >> his chief of staff during the cry says said you'll be -- this is job one, the crisis. and he go that's not enough. he wants to be transformative. i don't know. we'll see. i asked the first time around why isn't he more concerned with job gr
. president obama's initial offer on the fiscal cliff was resoundingly rejected by republicans. it included a $1.6 trillion tax increase, double what he campaigned on. also included $400 billion in entitlement cuts eliminating the need for congressional approval to a raise the debt ceiling. the markets rebounded later in the week following the latest hopes on a fiscal cliff agreement. america's economy grew at a faster pace than initially expected in the third quarter of the year. the second reading of the gross domestic product showed it at rate of 2.7% spurred by stronger inventories and exports. the securities and exchange commission is looking for a new chairman. mary shapirp schapiro announcin she will step down after nearly four years on the job. the obama administration says it will announce a replacement in the near future. >>> starbucks has a new way to spend a lot of money. it is introducing the most expensive blend made from a rare costa rican variety named geisha. it is $7 a cup and only available in 48 stores. if you order one, drink it slowly and enjoy every sip. >>> is the fi
guests believes the house republicans should dive head first off the fiscal cliff. oh, my god. he's going to have to explain that one to me. don't forget, folks, free market capitalism is the best bet to prosperity. let me just underscore the prosperity part. we need a lot more of it. i'm kudlow. we'll be right back. >>> welcome back to "the kudlow report." the new york mets agreed to a megamillion dollar contract extension for all star third baseman david wright today. he's not alone in this year-end wheeling and dealing. we're going to explain why baseball's feeling a fiscal cliff tax frenzy. that coming up in about 30 minutes. >>> now switching gears, with just 33 days until the country's economy plummets off the tax and fiscal cliff and there's still no deal in sight, we see today a daily caller op ed suggesting that republicans in congress should dive head long off the cliff. really? i'm not sure i'm on board with that one. but let's talk. maybe i could figure it out. here now is the co-author of that op ed, neil patell of the daily caller and we welcome back texas republican senator
the fiscal cliff will hurt our economy. it will cost american jobs. republicans have taken action to avert the fiscal cliff by passing legislation to stop all the tax hikes, to replace the sequester and pave the way for -- pave the way for tax reform and entitlement reform. and we're the only ones with a balanced plan to protect the economy and protect american jobs and protect the middle class from the fiscal cliff. but without spending cuts and entitlement reforms it's going to be impossible to address our country's debt crisis and to get our economy going again and to create jobs. so right now, all eyes are on the white house. the country doesn't need a victory lap. it needs leadership. it's time for the president, congressional democrats to tell the american people what spending cuts they're really willing to make. with that, i'll take a few questions sfwl speaker boehner, why will you not tell democrats what specific spending cuts you would like to see, especially within entitlements? >> it's been very clear over the last year and a half, i've talked to the president about many of the
avoid the fiscal cliff, the fact that the republicans put out an offer, like their old offer before the president won re-election, it does feel like the two sides are talking, but they appear to be talking past each other. the clock is ticking in washington. ticking against a dealing. i think the two sides seem to hate each other more than ever. i don't now, it seems like the last 72 hours i was hoping it was going to get better and it seems like it got worse. i spent a ton of time this weekend hanging with old college chum, grover norquist. he's as certain as ever that republicans who have impure thoughts about violating his no new tax pledge will be targeted at the primary level by tea party members. i'm taking this masterful behind-the-scenes player at his word that he controls almost all the republicans. because almost all of them signed his oath. so a deal could be tough. plus i'm now calling for no vacation without legislation. no vacation without legislation. because the holidays are slated to begin in a couple of weeks. which doesn't give enough time to get the job done. so
the white house and congressional republicans, just 29 days to go before the u.s. hits the fiscal cliff. both sides are blaming each other. timothy geithner pushing the gop to offer specific ideas and predicts they will eventually yield on raising tax rates on the wealthy. house speaker john boehner standing firm against higher taxes. sgr we' >> we've put a serious offer on the table by putting revenues up there. but the white house has responded with virtually nothing. >> why does it make sense for the country to force tax increases on all americans because of a small group of republicans won't extend tax rates for 2% of americans. there's no reason why that should happen. >> democratic strategy from bgr joining us. we'll always get a standoff at some point in these negotiations. is it a terminal standoff? when does somebody blink? >> it's not a matter of who will blink or not. i think that the republicans are trying to go tit for tat with the president. you have to realize that the president has the bully pulpit and the ability to command media. so the republicans feel the need to res
that proposal. i worry that he's already decided to take us off this fiscal cliff to blame republicans. it might be a short term political victory but it's terrible for the economy. i think that's the wrong way to go. >> senator casey, you heard what congressman brady just said, bills neither the senate or the house is going to pass each other's bill. it doesn't make sense to lay out the ideas without getting closer together. what do you think is the realistic way to find agreement and can you two as the chair and vice chair of the jec can you two find consensus? >> kevin is a good friend and great vice care of our xhe, we work well together and that mutual respects is part of this. i think there's too much cover annual of the personalities of the president and the speaker and all that. that doesn't matter. the key thing is let's focus on priorities like growing the economy, focus on getting an agreement. we may not get all of this done by the end of the year but i think we can move forward. >> what do the nuts and bolts look like, we know what the proposals are in terms of 1.6 in tax increases
. >> welcome back. >> yesterday the white house fiscal cliff proposal made top senate republican mitch mcconnell laugh, we are told. >> today the rhetoric continued. eamon javers breaks down all the hardball offers and the reactions in washington. over to you, eamon. >> hi, guys. we got a lot going on here in washington this week. a lot of horse trading. we dealt with a lot of the spee speech. the white house is saying they'd like to see $1.6 trillion in tax increases up front here. they'd like to continue the payroll tax credit. they want a permanent increase in the debt limit and a one-year extension of expanded jobless benefits. they want at least $50 billion in spending as a stimulus to the economy. that was the white house ask that prompted that laugh from mitch mcconnell when tim geithner gave it to him yesterday. today in an interview with "the wall street journal," mcconnell floated his own balloon of what he'd like to see. here are some of the elements. mcconnell saying they want changes to entitlement eligibility. they would agree to more tax revenue, yes, but not higher rates.
a service to show how the republicans and their plan, specifically on the fiscal cliff will allow people to move from the middle class into the upper class and allow even more people after that to move out of middle class and into the upper class. growth would be a great thing both on a personal level and an economic level as well. >> last one, senator rand paul is not going to filibuster in the senate. he's going to let the thing go through, he's going to vote against it. do you think republicans in the house, katie, should vote present and let the democratic bill go through? >> i'm all for the republicans voting present. mr. dean just last night said having us go over the fiscal cliff actually wouldn't be the worst of ideas. if that's how we're going to go and president obama has said that he's not going to sign anything without the tax increase, fine, let them own it. have republicans take a step back and give president obama what he wants. >> i've got to get out. thanks to both of you. >> thank you. >> howard dean, we preeshtd it. and katie pavelich, we appreciate it. >>> egypt's gov
compromise with their latest counter offer on the fiscal cliff. not as many spending cuts as they originally wanted and slight entitlement reform. the white house has just reject this offer out of hand and once again it solely is because it doesn't raise tax rates on the rich. when is obama going to rise above that obsession? when will he lose that over rich people and tax rates? i don't know. tonight, i'm is going to try to call his bluff. anyway, also breaking tonight, potential catastrophe if syria uses its chemical weapons. president obama issues a stern warning to syria and i quote the world is watching. and there will be consequences if syria uses these wmds. have we just committed ourselves to another war? and the gun control debate is squarely back in the spotlight tonight after the murder/suicide by nfl player in kansas city, second amendment instead of blaming the sick people who use them. republicans have responded to a fiscal cliff counter offer to president obama. eamon javers joins us now from washington with all the details. good evening. >> reporter: good evening. leapt me wa
end of the day, down 63 points. more on the republicans' counterproposal on the fiscal cliff coming your way as we get under way with the second hour of the "closing bell" with maria bartiromo. i'll see you tomorrow. >>> hello, 4:00 on wall street. do you know where your money is? welcome back to "closing bell." i'm maria bartiromo on the floor of the new york stock exchange. happy monday to you. this market beginning the new month lower as the gop today puts out a counteroffer on the fiscal cliff. take a look at how we're finishing the day on the wall street. dow jones under water with decline about 60 point. 12,966. last trade on the index. nasdaq gave up some ground today, to the tune of eight points finishing at 3002 on the session. and the s&p 500 down 6.70 points at 1409. >>> december a historically good month for the markets. the s&p has risen 8 of the past 1 years in the final month of yeert. with fears of the looming fiscal cliff, can the trend continue? we're bringing in mike from yahoo! finance and cnbc and yahoo! have a business alliance to share and co-produce editorial
on the fiscal cliff plan. what's the republican congressman have to say about it? opening bell is just 4 1/2 minutes away. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. >>> you are watching cnbc's "squawk on the street." we're just a minute and a half away before the opening bell rings. we're right now looking at a slightly higher open according to the futures. could be a big session for luxury names. tiffany getting a downgrade getting whacked once again after the dismal numbers coming out yesterday morning. >> merrill lynch takes it down. i see people abandoning the name. people are tr
reform or any sign of common ground plan to avert the coming tax and fiscal cliff. joining us to talk about this, we're going to get a gop response, senate republican conference chairman john thune of south documeakota. welcome back to the show. "the washington post" runs an editorial today saying it's time for the president to unveil some leadership on entitlement reforms and spending cuts because he hasn't done it. i want to ask you at the president's pep rally today, did you hear any of those leadership reforms on spending and entitlements? >> i certainly didn't and, by the way, good evening, larry, it's nice to be with you again. i don't find myself often agreeing with the editorial page of "the washington post" but this time they had it right. the president right now, the pep rally today is going out again on friday is really a continue ways of the campaign when in fact right now what he ought to be doing is trying to find some common ground with republicans, with congress up here on capitol hill because we've got to do something to avert this fiscal cliff. the only way we do tha
,000. if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again, there's no prospect in an agreement that doesn't involve the rates going up on the top 2% of the wealthiest. all those americans get a tax cut under the framework under the first $250,000 of their income. in some sense, it's a tax cut for all americans. it's just for people who make more than that, we're going to ask them to pay a modestly amount more. >> that's hard to understand given how much going over the fiscal cliff would hurt the economy. why is going over the fiscal cliff worth it for just this one component? if you can get the other components, why wouldn't you take that? >> good question. thanks for asking. what we're trying to do is put in place a comprehensive balance set of fiscal reforms that put us back on the path to living within our means and create room for investing to make the economy stronger, make sure we're protecting medicare for future generations, and forcing the government to use the taxpayers' resources more wisely. in that context, yo
and republicans if we go over the fiscal cliff at the end of the month. john harwood is live, good morning. >> good morning, we're tracking what pressure exists from the public from voters on members of congress on the administration for resolving the fiscal cliff and there are a couple of findings i want to run through. first of all there is more public pressure on republicans to compromise than on democrats. if you look at the results of the survey, 20% of americans say the message of the election was that republicans need to compromise with the president. 9% said that the message was that president obama needs to compromise and the plurality, 44% said both ought to compromise. those results aren't so surprising because president obama won the election but if you look at the number who would be to blame if we don't get a deal, you see 21% blame the president and democrats in congress, 23% blame republicans, pretty even, 52% says they blame both of them. some other surveys have shown president obama with a stronger hand. we looked democrats in congress together with the president, any tim
their counterproposal on the fiscal cliff. no real movement there. a couple zigs and zags but we're going out on the low end, about 50 point. we'll quickly show you the charts of the dow, the s&p and the nasdaq, going back for the full year. we're back above the 200-day moving average in all three cases. it's the closest for the dow. we're right at the long-term trend line there. let me show you. i think the s&p is next here. the s&p and the nasdaq are well above their 200-day moving average. move it along, yes. again, these are not precise but you can see it's moving well above that. this is the nasdaq. and the s&p is well above its 200-day moving average. there you are. it's the strongest of those three percentagewise. warren, democrat is typically a pretty good month for equities. >> i don't know if it is this year. yes, traditionally it is. are with going to hit brian's target of 1475 by the end of the month? >> i don't know about that. >> there was a little hedge there. >> 1425. >> 1575 next year. 1425 this time around. what takes us there? >> we think it's industrials, the first part, because this
. and that is illegal. first up, breaking news on the fiscal cliff front tonight, president obama offered his opening bid in budget talks with republicans, and we have eamon javers with all the details. good even, eamon. >> house republican aides are saying this was a new offer from temperature think geithner on capitol hill for a long series of meegts. there were varying report of whether or not he had made a specific new offer. in fact harry reid told me that he hadn't made a specific new offer. that said, republican sources are laying out the offer they say they got from the white house today. take a look at some of the specifics. you'll see what's prompting the reaction earp just talking about. they say what the white house is offering is 1.6 trillion in tax increases up front, to continue the payroll tax credit or a similar policy, what they call a permanent increase in the debt limits, a one-years extension of extended jobless benefits plan, and at least $50 billion in new spending. i talked to a house gop aide that said this offers a complete break from reality. that said, i also talked to the
there is a big overplay by the democrats on this blaming the republicans if we go over the fiscal cliff. if you look back to 2010, a lot of buttons were pushed and thought it would be blamed on the republicans. short term blame on the republicans, long-term blame on the incumbent in office. >> all i can say, two years, november of 2014, is the next time for an election. 365 times 2, basically. a lot of memory loss there, you know, if both sides dig in. ultimately, president owns whatever happens at this point. >> exactly. in 2014, it's what happens then, not what happens in 2012. >> let's talk about today's ism. oh, my goodness, the low since '09 -- the employment index as you were study, give details. >> lowest in september '09, trending down since april. a lot of these numbers, obviously written off to sandy. but you really have to look. april 12th -- or april of '012, we didn't have a hurricane, it was trending down. is it because employers are nervous about what's going on, the nonsense going on in d.c. right now? and they're holding back on any decisions? i think it's more that than sandy.
. republicans want to cut entitlements. what do average americans want to see in a fiscal cliff solution scene of the accident -- exclusive cnbc all america survey next. customer erin swenson bought from us online today. so, i'm happy. sales go up... i'm happy. it went out today... i'm happy. what if she's not home? (together) she won't be happy. use ups! she can get a text alert, reroute... even reschedule her package. it's ups my choice. are you happy? i'm happy. i'm happy. i'm happy. i'm happy. i'm happy. happy. happy. happy. happy. (together) happy. i love logistics. >>> we have moved into the green on the dow jones industrial average. not but much but we'll take it. we're up seven points. >> bob pisani is right next to me on set. >> i think we're stable right now. that's the best you could look for. industrials a little bit to the downside, materials a little bit to the downside. i want to note that computer hardware stocks continue to hold up. notice the s&p tech sector is the market leader. i'm not just talking about apple having an update. all the hardware stocks moved up yesterday whi
at bloomberg and talked about the republican offer from speaker boehner on the fiscal cliff resolution. he said it was out of balance because the speaker has not agreed to rate increases but the president identified a two-step process by which he is hoping still to reach an agreement before the end of the year, if he can get republicans to give on the top rate. he said that first of all, we can't do a fundamental tax reform in the next two weeks. we simply have to have a down payment before the end of the year and then commit to tax and entitlement reform during the year of 2013. he also specified, and i think this is significant, that he thought 300 to $400 billion over ten years is about what you could raise by closing loopholes and trimming deductions. this is a -- this is a way to come to grips with how to get to the revenue target the president wants. let's first of all listen to -- we have got a piece of sound from that interview. let's listen to the president. >> when you look at how much revenue you can actually raise by closing loopholes and deductions, it's probably in the range of $3
it was clear that wall street is fixated on washington and what's going on with the fiscal cliff talks. they were still public today. here's where the president started speaking to the business round table and where we learned also that those 40 republicans part of this bipartisan group that would be open to new ideas on the fiscal cliff talks. of the dow, the best performers and worst performers today, the full-ti financials higher led by bank of america. nasdaq, we need to highlight this, was lower, down 20 points today. why? because of apple. apple had one of its worst days. we highlighted this earlier. something very archean called the death cross, the 50-day moving average crossed below the 200-day moving average. what does that mean? just means it could be going lower from here. down 6% on apple today. the yield of the ten-year went lower. as they were buying stocks, they were also buying treasuries today. we were below 1.58 for a time on the ten-year note. finally, watch the vix. the fear indicator continues to move lower today. we've not been above 20. sort of the yellow flag t
he convince the white house to back the republican solution to the fiscal cliff? one more look at futures on a tuesday morning as melissa said. not a lot of data today. just wait until the next three days. it all starts with adp, jobs coming up later this week. more "squawk on the street" back in a minute. bob, these projections... they're... optimistic. productivity up, costs down, time to market reduced... those are good things. upstairs, they will see fantasy. not fantasy... logistics. ups came in, analyzed our supply chain, inventory systems... ups? ups. not fantasy? who would have thought? i did. we did, bob. we did. got it. >>> shares of toll brothers are rising beating estimates helped by a jump in signed contracts and a drop in cancellation rates. every metric in this report came out gangbusters and the ceo cited this upswing in momentum that began in the first quarter of this year. they say next signed contracts increased quarter by quarter. 45%, 51%, 66% and 75%. now that's a case for momentum sustained here. >> the question is auto. obviously tremendous demand. home
one didn't come down and hit me over the head and knock me out. apple. if we're going off the fiscal cliff, we know capital gains tax rates are going higher, right? right? that's obvious. do you think the republicans have the power to keep those capital gains rates down? apple's become a referendum on the president's power. right now he has the upper hand, then he can really roll them and intends to do so. it's reasonable to take some profits so you can pay the tax man more now rather than later. it's a wimpy thing, it's logical, makes perfect economic sense. so the stock gets hammered. it makes sense to sell it. but let's be less emotional and even clinical about this one. first, divide apple's share price by ten, now you have a stock that got crushed down to $54. when you do that, it isn't all that scary, is it? where does the pessimism fit in? when we have to endure the pin the tail on the selloff game, what excuses for the selloff myriad alibis i hear from today's action. apple's losing share to google, it doesn't have the right phones in europe, nokia's making a comeback, the mi
now say let's go over the fiscal cliff. both sides have a real vested interest in that not happening. both sides. the republicans in the final analysis give higher taxes. you have the possibility that they're going to be able to be painted as having been the ones to really trigger it. and on the democratic side and the administration side, you have -- without this patch, and the patch is something that's been passed every year since 2001 to inflation adjust who's caught by this alternative minimum tax. if you don't put the patch in place -- and by the way, the patch costs almost 200 billion dollars for the next two years. if you put it in place, that's what the cost of it is. if you don't put it in place, amt catches a lot of middle income. >> at what level? >> it goes all the way down to -- >> i think 70 or $80,000. >> that's where the patch takes you to, well below that. >> does it really? >> that's going to affect a lot of the democratic constituents. a lot in the blue states where you have high state and local income tax deduction. so you lose that and the alternative minimum inc
businesses as negotiations or lack thereof over the fiscal cliff continue. >> did you see that the nbc white house team is reporting the belief that perhaps the republicans don't have the fight in them anymore to really dig in now on the concessions on the way which is good news if you don't want to go over the fiscal cliff but they are dispelling the real argument for later on. >> fuel line inspections being ordered for boeing 787 dreamliner. phil lebeau has more on this story. >> a rough day yesterday if you are tracking what's happening with the dreamliner. one of two important stories that broke yesterday. the first one involving a dreamliner that had to make an emergency landing. it was flying from houston to newark, new jersey. it had to turn and it had to make an emergency landing in new orleans and united crew reporting mechanical problem. they delivered the dreamliner two weeks ago. boeing technical team is right now in new orleans investigating the problem along with united teams. they'll have an update later today hopefully. boeing coming out and saying that it expects faa to mand
on wall street. stocks trade on fiscal cliff comments from president obama and john boehner. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> republicans know where we stand. we've said it, we've said it, we've said it so many times. >> i think all of us today are confident we can reach a bipartisan agreement by christmas time. >> according to congressional republican aides, they say they have obtained a copy of the white house's proffer here. at least $50 billion in new spending. >> do you have faith in any of them to rise above? >> would it be okay to go over? >> we will rise above. >> morgan stanley wealth management's chief investment strategist up next with his list of winners and losers. plus, how you can make money in these shaky markets as the year winds down. >>> later, as lawsuits pile up and hewlett-packard stock suffers, carly fiorina will join me for her first interview since the autonomy disaster came to light. wait until you hear who she says deserves the blame. >>> also, social security an
are higher, as well. in your morning headlines today, the fiscal cliff dominating the sunday talk show circuit. treasury secretary tim geithner expressing on meet the press that republicans will accept the president's plan to raise income taxes. >> what we're trying to do is make it more likely we come together on a good agreement for the american people that extends tax cuts for the middle class. we're going to start long-term deficits down, tough savings is part of that and investment, things that matter to the american economy. like frut, things to help americans to get back to work. we have a good chance to it now and it's very important we're going to do that. >> secretary geithner said that if republican leaders have alternatives on reducing the deficit, they need the offer their propose yaels to the government. >>> manufacturing activity in china has hit a new high. hsbc's manufacturing purchasing index came in at 55 in november. it separates expansion from contraction. and the latest twilight film was number one at the weekend box office for the thrt straid straight weekend. it
. in terms of fiscal policy, obviously there's a great goal between the republicans and the democrats. at least there's a bit of talk on the table now. hopefully that can start to narrow. we're certainly still living in uncertain times. we're cognizant of that as we inves invest. >> as a small business owner, how would you characterize business right now? your jewelry line, small business activities pmplg. >> i've had the good fortune of creating a fashion brand. i have jewelry, shoes, handbags, et cetera. i found a niche within the market hthat's looking for affordable price points. it's really been resonating very well. >> sounds like you're on style, actually. ivanka, good to have you on the program. we look forward to you ringing the bell and lighting the christmas tree out here. we'll see you soon. over to you, bill. >> all right. thank you very much. thanks to ivanka as well. 15 minutes left in the trading session. the dow holding steady with a gain of about seven points. one of our next guests says the market -- or that printing in color had to cost a fortune. nobody said an al
, the fiscal cliff. geithner's president lead negotiator in the budget talks. he'll meet first with harry reid at 10:00 a.m. and then with house republicans including speaker john boehner, eric cantor and paul ryan. geithner will lunch with mitch mcconnell and then house minority leader nancy pelosi. president obama is signaling he's flexible on on where tax rates should go for the wealthiest americans. a return to the clinton era tax rates would have households pay between 36% to 39%. the president met with a group of 14 ceos wednesday afternoon. they offered support for resolving the if i can crisis with a proposal for higher taxes for those who make more than a quarter million dollars a year. sdl bo >> both sides have acknowledged that there will be revenue concessions and sbilgtment cent concessio concessions. i'm not a master of the political art here, but i would say if you have these point of views in a business context as close as they are, i would say a deal would be in reach. >> ford chairman bill ford junior agrees with blankfein saying he's confident the obama administration can re
which definitely affected us. >> will the fiscal cliff impact the mustang ranch? >> well, if folks rub out of money and jobs, i suppose it could. >> gillman is a republican who is looking to nevada's powerful democrat harry reid to keep that from happening. >> do you like harry read? >> harry reid and i have been friends if 30r years and harry and i both share a vision and a love for the state of nevada. >> susan austin says even here the cliff will hurt. >> anything that happens in washington affects everybody in the united states. it's going trickle down to me sooner or later, so it's definitely going to hurt me in the end. >> we're going to have her entire interview later. funnybusiness.cnbc.com. she didn't say what she wants harry reid to do over it. she says you don't talk politics or religion at a brothel. he wants to make sure it doesn't kill nevada's fledgling recovery. later gillman takes it to a 30,000-acre industrial park he's built for facilities for walmart and toys "r" us. he says when it comes to the fallout for fiscal cliffing he says, quote, this is where the buck stop
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